RMBS

ABS Daily - out now

  • Barclays pre-places Irish RMBS from Pimco

    Barclays pre-places Irish RMBS from Pimco

    Barclays has won its second consecutive mandate in two months with the Pacific Investment Management Company (Pimco), pre-placing a reperforming Irish RMBS backed by a legacy portfolio. The deal is a refinancing of notes from Jepson Residential 2019-1, a deal which Pimco decided not to call at the height of the Covid-19 pandemic in April 2020.

  • Mortgage refi fee removal backed to boost RMBS market

    Mortgage refi fee removal backed to boost RMBS market

    ABS market professionals welcomed the elimination of the Federal Housing Finance Agency's adverse market refinancing fee, which will enable borrowers to refinance mortgages more cheaply. The elimination is expected to provide a boost to the housing market and, by extension, RMBS supply, sources said.

  • Cerberus resurrects reverse mortgage securitization market

    Cerberus resurrects reverse mortgage securitization market

    Cerberus Capital Management has mandated Citibank for the first public securitization of equity release mortgages since before the global financial crisis. The deal, which priced on Thursday, was made of a portfolio of loans acquired from the defaulted Northern Rock and the Legal & General Group. The majority of interest paid in the coupon will come from underlying mortgage borrowers dying or entering care homes.

  • Pepper releases guidance for non-conforming UK RMBS

    Pepper releases guidance for non-conforming UK RMBS

    Pepper Money has released initial price thoughts for its latest non-conforming UK RMBS deal, called Polaris 2021-1. Citi, National Australia Bank and NatWest Markets were guiding the £425m deal on Tuesday at around 80bp or in the low-80bp for the senior tranche.

  • 'Big deal' for RMBS as Biden gets grip on FHFA

    'Big deal' for RMBS as Biden gets grip on FHFA

    The Federal Housing Finance Agency is set to take a different direction under the the presidency of Joe Biden from the one it took under Donald Trump, with a laser-like focus on affordable housing. To further the affordable housing agenda, the US's government-sponsored enterprises are expected to ramp up their volumes of RMBS issuance to boost the availability of mortgages.

  • Lehman Brothers securitizations at risk of missing Libor deadline

    Lehman Brothers securitizations at risk of missing Libor deadline

    Tough legacy mortgage securitizations are resisting the switch away from Libor, as the Financial Conduct Authority calls on issuers to contact investors before the six month deadline hits. A group of mortgage securitizations issued by defaulted Lehman Brothers pre-2008 are seen as particularly high risk.

  • UK government turns new page on securitization regulation

    UK government turns new page on securitization regulation

    The UK government is launching a complete review of its securitization regulations in parallel with the European Union’s ambitions to reform the market. Sustainability, the 'simple, transparent and standardised' label, SME funding and risk retention are all under the microscope.

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